It's a tool that's more than sufficient for most things. Video isn't one of those, and it's a 2-wire bus, so I don't see what the wiring concern is!

As I understand it, newer systems like LVCS and Ethernet use less wire and smaller connectors. Apparently it can save up to 30% of the weight in a wiring harness which would be about 100 lbs. There was a thread on it on HN not long ago.

Video for a backup camera is mandatory on new cars in the US and Europe, so it makes sense to use the same bus.